DTN Early Word Grains 03/19 05:54
Rain Comes To Kansas, Grains Tumble
May corn was 4 1/2 cents lower, May soybeans were 13 cents lower, and July
Kansas City (HRW) wheat was 16 3/4 cents lower.
By Todd Hultman
DTN Analyst
6:00 a.m. CME Globex: May corn was 4 1/2 cents lower, May soybeans were 13
cents lower, and July Kansas City (HRW) wheat was 16 3/4 cents lower.
CME Globex Recap: Early Monday, nearly everything is starting lower: stocks,
bonds, most commodities, and even the U.S. dollar index. Grains especially are
off to a lower start with a mix of rain and snow falling in Kansas along with
signs of excessive speculator bullishness.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 72.85 points (0.3%)
higher at 24,946.51, the NASDAQ Composite was 0.25 points (0.0%) higher at
7,481.99, and the S&P 500 gained 4.68 points (0.2%) to 2,752.01 Friday. DJIA
futures were 123 points lower early Monday morning. Asian markets were mixed
with Japan's Nikkei 225 down 195.61 points (-0.9%), Hong Kong's Hang Seng up
11.79 points (0.1%), and China's Shanghai Composite up 9.37 points (.3%).
European markets were trading mostly lower with London's FTSE 100 down 75.86
points (-1.1%), Germany's DAX down 126.26 points (-1.0%), and France's CAC 40
down 40.47 points (-0.8%). The euro was 0.0004 lower at 1.2281 while the U.S.
dollar index was up 0.02 at 90.23. March 30-year T-Bonds were 7/32 lower at
145'07 while April gold was down $1.50 at $1,310.80. Crude oil was $0.26 lower
at $62.08 as Brent crude was down $0.30 at $65.91. China's Dalian soybeans were
steady to higher and May Malaysian palm oil futures were up 0.3% overnight.